They increased by 15pc and 16pc, respectively, due to improving car sales, lower oil prices and improved macros.

Sales of Hascol Petroleum grew by 45pc to 155,000 tonnes, taking its market share to 7pc from 6pc in the same period last year, he said.

Sales of Pakistan State Oil (PSO) and Attock Petroleum (APL) went up by 21pc and 22pc, respectively.

PSO lost some market share in retail fuel products, including motor gasoline and HSD, as their sales remained flat.

However, the increase in furnace oil sales of PSO supported growth in overall sales for the company, Mr Naseer said.

Growth in Shell Pakistan’s sales remained flat, as its HSD’s revenues fell by 6pc during August.

Improving macros, growing car sales and higher power generation are likely to drive sales of oil marketing companies higher going forward, he added. “Linkage of margins on retail products with CPI inflation also bodes well for the sector,” he said.